Examlex
How many microstates are possible in a collection of four particles that are present,with two particles each in two connected flasks? Sketch them below.
Total Revenue
The total income generated by a business through the sale of goods or services before any costs or expenses are deducted.
Downward-sloping
A graphical representation indicating a negative relationship between two variables, such as price and quantity demanded in the demand curve.
Elasticity of Demand
A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantitatively expressed as the percentage change in quantity demanded divided by the percentage change in price.
Inelastic
An inelastic good or service has a demand that does not change significantly when its price goes up or down.
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